News: Malaysian media company Astro Malaysia Holdings Bhd to offer voluntary separation scheme

Employee Relations

Malaysian media company Astro Malaysia Holdings Bhd to offer voluntary separation scheme

Astro Malaysia stated that the move would allow the group to further simplify the organization, enhance operational efficiency and reduce annual operating expenses.
Malaysian media company Astro Malaysia Holdings Bhd to offer voluntary separation scheme

Malaysia’s biggest direct broadcast satellite pay-TV service provider Astro Malaysia Holdings Bhd will be undertaking a voluntary separation scheme (VSS) for its staff on account of the challenging overall economic landscape.

The move comes as the group hopes to further simplify the organization, enhance operational efficiency and reduce annual operating expenses.

Malaysia’s biggest direct broadcast satellite pay-TV service provider stated that the scheme was offered purely on a voluntary basis. The pay TV operator has put in place a transition programme that would provide the right support to employees who opt for the VSS, including coaching and skills upgrading training programmes.

In a statement to Bursa Malaysia, it said, “The media and entertainment industry is currently operating in an environment that is experiencing an unprecedented rate of disruption. Industry players are required to reinvent and adapt swiftly to remain relevant in this new reality.”

However, notwithstanding this exercise, the company will put in place measures to ensure that the customer experience is not impacted by the VSS.

Henry Tan, CEO Designate, Astro Malaysia Holdings Berhad said, “In an increasingly borderless and digital world, competition is relentless. Astro continues to be proactive to reinvigorate the Group in order to strengthen its position in the market and to remain relevant in the years ahead.”

Astro Malaysia Holdings Berhad is Malaysia’s leading content and consumer company in the TV, OTT, radio, digital and commerce space with growing ASEAN presence. It claims to reach out to over 23 million individuals in 5.5 million Malaysian homes.

In tough times, companies resort to schemes like VSS and slashing headcount to sail through. In such a period, making sure the outgoing employees are taken care of should be the utmost priority of the organization. Hopefully, by offering the scheme voluntarily and providing coaching and skill upgradation to the employees opting out, Astro Malaysia Holdings Bhd would be able to soften the blow.

Image Credits: The Broadcasting Bridge

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Topics: Employee Relations

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